With a huge investment from the advanced economies in the IT firms, there has been a surging demand for software solutions & innovative applications and constant evolution in digitalization of IT firms. This is expected to drive the growth of the low code development market over the next few years.

Additionally, the low code development platform is bifurcated by type, component, deployment, organization size, and applications. Based on the type, the low code development platform is sub-segmented into database app platform, process app platform, general purpose platform, and request handling platform. The component is further segmented into solution and services. By the solution, the low code development market is divided into mobile solutions and web solutions. The service-based low code development consists of professional services and managed services. Moreover, low code development platform segment is deployed into on-premises and on-cloud. The on-cloud is categorized into public, private, and hybrid.

Based on the size of the organization, the market is sub-categorized into small, medium, and large.

Based on the application, the market is further divided into banking, financial services, and Insurance (BFSI), retail, healthcare, transportation & logistics, IT & telecommunication, media & entertainment, construction, and others.

Based on the type, the low code development platform is sub-segmented into database app platform, process app platform, general purpose platform, and request handling platform.

On the basis of the component, it is segmented into solution and services. The solution based low code development is categorized into mobile solutions and web solutions. Furthermore, the service based low code development consists of professional services and managed services.

The deployment is sub-segmented into on-premises and on the cloud. The on the cloud is further categorized into public, private, and hybrid.

On the basis of the size of the organization, the market is sub-segmented into small & medium enterprises, and large enterprises.

Based on the application, it is further segmented into banking, financial services, and Insurance (BFSI), retail, healthcare, transportation & logistics, IT & telecommunication, media & entertainment, construction, and others.

Regional Analysis:

Geographically, the low code development market is categorized into five different regions: North America, Asia Pacific, Europe, and Rest of the World.

North America is expected to be the prominent region in the low code development platform market over the forecast period. The U.S. is the leading country in this region owing to the presence of a large number of low code development platform providers. Europe is likely to experience rapid growth in the low code development platform market over the next few years.

Increasing investment in IT solutions and enhanced demand for mobile-based apps for the business organization, Asia Pacific region is expected to have substantial growth over the forecast period 2017-2023.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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